$267m 500-unit hotel tower planned in Makkah's Masar Destination

Saudi Arabia’s Umm Al Qura For Development and Construction has announced plans for a new SAR1 billion ($267 million) hotel tower in Makkah as part of its massive Masar Destination development project near the Grand Mosque.

The company said in a LinkedIn post that it had signed a land sale agreement with Heyazah Al Haram Fund, represented by Hejaz Real Estate Asset Acquisition Company, for the development of a 500-unit hotel tower within the Masar Destination project in the heart of the holy city.

The project is aimed at boosting hospitality capacity in Makkah amid rising demand from pilgrims and visitors.

Hejaz Real Estate Asset Acquisition Company is a real estate fund managed by Blom Investment Company Saudi Arabia.

Masar Destination is one of Makkah’s largest urban transformation projects, spanning 1.2 million sq m and located about 550 m from Masjid al-Haram.

The mega-development extends across the western part of Makkah and features a 3.6-km pedestrian boulevard providing direct access to the Grand Mosque.

The project stretches from the Third Ring Road in the west to the First Ring Road near the Jabal Omar district and is positioned about 100 m from the Haramain High Speed Railway station, offering high-speed rail connectivity across the kingdom.

Saudi Arabia has been accelerating large-scale hospitality and infrastructure developments in Makkah and Madinah as part of efforts to enhance services for millions of pilgrims visiting the kingdom annually.